China Securities Journal reported that Huadian Power International Corporation acquired a 35% equity stake in Quanhui Company for CNY 939 million from Inner Mongolia Jinwo Investment Holding.

Upon completion of the acquisition, Huadian Power International and Xinwen Mining Group will jointly own five coal mines in Shanghaimiao Mining Area West zone, Inner Mongolia. The total purchase price of these five coal mines exceeded CNY 2.45 billion.

The coal production capacity of Huadian Power International is expected to reach 30 million tonnes by 2013, accounting for 30% of China total coal power consumption volume.

The company fuel power generation costs in the first half was CNY 258.84 per megawatt hour up by 18.99%YoY.

(Sourced from China Securities Journal)